A Complete Guide to the
Homeowner Association
Loan Process
It's important for homeowners' associations to have
adequate operating funds for day-to-day expenses
and a sufficient reserve fund for improvement projects
and anticipated repairs. Unfortunately, communities
sometimes come up short. If an association has
insufficient capital, the project funding may require
securing a loan from a lender who specializes in lending
to homeowner associations.
Loans help fund a variety of projects and expenses,
from common area improvements to maintenance
and repairs, when the annual membership assessment
cannot cover the expenses. Associa understands
the complicated decisions and workload that goes
into finding the right financing for your association.
Read on to learn how projects are typically funded,
what's required from the lender to approve a loan,
the advantages and disadvantages of securing an
association loan, and much more.
